SAN DIEGO COUNTY, Calif — This article was initially published by CalMatters. To read this investigation and others, go to Calmatters.org.
Regulators on Thursday approved a slight reduction to the profits shareholders are allowed to receive from California’s three major investor-owned utilities.
The decision dropped all three major investor-owned power companies’ returns by 0.3%, bringing the shareholder return for Pacific Gas & Electric to just below double digits for the first time in at least two decades. A decision proposed last month would have imposed a slightly larger profit cut of 0.35%…